Note: Percent of respondents expecting higher income during the next 12 months than the past year, minus the percent of respondents expecting lower income in the next 12 months than the past year. There were National Bureau of Economic Research defined recessions from 1980Q1 to 1980Q3, from 1981Q3 to 1982Q4, from 1990Q3 to 1991Q1, from 2001Q1 to 2001Q4, and from 2007Q4 to 2009Q2.

Source: Thomson Reuters/University of Michigan Surveys of Consumers.

Exhibit 6: Persons Working Part Time for Economic ReasonsPercent of Current Population Survey Employment

Date

Percent

May-55

3.35

Jun-55

3.21

Jul-55

3.40

Aug-55

3.51

Sep-55

3.39

Oct-55

3.32

Nov-55

3.48

Dec-55

3.37

Jan-56

3.37

Feb-56

3.29

Mar-56

3.12

Apr-56

3.22

May-56

3.44

Jun-56

3.65

Jul-56

3.58

Aug-56

3.68

Sep-56

3.74

Oct-56

3.78

Nov-56

3.78

Dec-56

3.61

Jan-57

3.59

Feb-57

3.78

Mar-57

3.78

Apr-57

3.56

May-57

3.71

Jun-57

3.86

Jul-57

3.79

Aug-57

3.81

Sep-57

3.87

Oct-57

4.12

Nov-57

4.15

Dec-57

4.24

Jan-58

5.21

Feb-58

5.46

Mar-58

6.33

Apr-58

5.98

May-58

5.73

Jun-58

5.32

Jul-58

4.71

Aug-58

5.04

Sep-58

5.01

Oct-58

4.68

Nov-58

4.42

Dec-58

4.45

Jan-59

4.30

Feb-59

3.95

Mar-59

4.43

Apr-59

4.00

May-59

3.64

Jun-59

3.92

Jul-59

4.10

Aug-59

4.01

Sep-59

3.87

Oct-59

4.21

Nov-59

4.34

Dec-59

4.18

Jan-60

3.84

Feb-60

3.91

Mar-60

3.72

Apr-60

4.20

May-60

4.14

Jun-60

4.39

Jul-60

4.29

Aug-60

4.45

Sep-60

4.63

Oct-60

4.68

Nov-60

4.72

Dec-60

5.02

Jan-61

5.21

Feb-61

5.43

Mar-61

5.05

Apr-61

5.04

May-61

4.99

Jun-61

4.77

Jul-61

4.63

Aug-61

4.79

Sep-61

4.54

Oct-61

4.42

Nov-61

4.35

Dec-61

4.01

Jan-62

3.62

Feb-62

3.95

Mar-62

4.19

Apr-62

3.91

May-62

4.13

Jun-62

4.02

Jul-62

4.15

Aug-62

3.92

Sep-62

3.98

Oct-62

4.03

Nov-62

4.06

Dec-62

3.85

Jan-63

3.90

Feb-63

3.82

Mar-63

3.93

Apr-63

3.91

May-63

3.80

Jun-63

3.88

Jul-63

3.66

Aug-63

4.03

Sep-63

3.99

Oct-63

3.88

Nov-63

3.84

Dec-63

3.78

Jan-64

3.55

Feb-64

3.73

Mar-64

3.59

Apr-64

3.69

May-64

3.65

Jun-64

3.59

Jul-64

3.41

Aug-64

3.41

Sep-64

3.53

Oct-64

3.50

Nov-64

3.39

Dec-64

3.53

Jan-65

3.40

Feb-65

3.29

Mar-65

3.26

Apr-65

3.16

May-65

3.18

Jun-65

3.06

Jul-65

3.20

Aug-65

3.17

Sep-65

2.83

Oct-65

3.02

Nov-65

2.90

Dec-65

2.83

Jan-66

2.88

Feb-66

2.61

Mar-66

2.64

Apr-66

2.63

May-66

2.65

Jun-66

3.00

Jul-66

2.92

Aug-66

2.65

Sep-66

2.53

Oct-66

2.53

Nov-66

2.35

Dec-66

2.72

Jan-67

2.96

Feb-67

3.15

Mar-67

3.14

Apr-67

3.21

May-67

2.48

Jun-67

2.82

Jul-67

2.77

Aug-67

2.77

Sep-67

2.98

Oct-67

2.90

Nov-67

2.96

Dec-67

2.81

Jan-68

2.51

Feb-68

2.86

Mar-68

2.63

Apr-68

2.57

May-68

2.54

Jun-68

2.69

Jul-68

2.56

Aug-68

2.58

Sep-68

2.55

Oct-68

2.47

Nov-68

2.52

Dec-68

2.59

Jan-69

2.49

Feb-69

2.52

Mar-69

2.64

Apr-69

2.52

May-69

2.53

Jun-69

2.69

Jul-69

2.57

Aug-69

2.74

Sep-69

2.80

Oct-69

2.76

Nov-69

2.65

Dec-69

2.69

Jan-70

2.77

Feb-70

2.78

Mar-70

2.84

Apr-70

3.33

May-70

3.17

Jun-70

3.00

Jul-70

3.17

Aug-70

3.10

Sep-70

3.09

Oct-70

3.32

Nov-70

3.28

Dec-70

3.51

Jan-71

3.49

Feb-71

3.47

Mar-71

3.50

Apr-71

3.55

May-71

3.44

Jun-71

3.09

Jul-71

3.41

Aug-71

3.36

Sep-71

3.31

Oct-71

3.41

Nov-71

3.51

Dec-71

3.24

Jan-72

3.30

Feb-72

3.19

Mar-72

3.23

Apr-72

3.34

May-72

3.13

Jun-72

3.42

Jul-72

3.40

Aug-72

3.43

Sep-72

3.24

Oct-72

3.10

Nov-72

2.90

Dec-72

2.84

Jan-73

2.61

Feb-73

2.85

Mar-73

2.81

Apr-73

2.76

May-73

2.83

Jun-73

3.22

Jul-73

3.17

Aug-73

3.06

Sep-73

3.09

Oct-73

3.09

Nov-73

3.11

Dec-73

3.29

Jan-74

3.17

Feb-74

3.42

Mar-74

3.13

Apr-74

3.03

May-74

3.31

Jun-74

3.20

Jul-74

3.24

Aug-74

3.44

Sep-74

3.66

Oct-74

3.66

Nov-74

4.02

Dec-74

4.16

Jan-75

4.83

Feb-75

4.68

Mar-75

4.80

Apr-75

4.91

May-75

4.65

Jun-75

4.42

Jul-75

4.27

Aug-75

4.23

Sep-75

4.13

Oct-75

4.17

Nov-75

4.11

Dec-75

4.09

Jan-76

4.32

Feb-76

4.03

Mar-76

3.99

Apr-76

3.98

May-76

4.02

Jun-76

3.91

Jul-76

3.93

Aug-76

3.97

Sep-76

4.12

Oct-76

4.24

Nov-76

4.20

Dec-76

4.15

Jan-77

3.98

Feb-77

4.30

Mar-77

3.96

Apr-77

3.73

May-77

3.87

Jun-77

3.97

Jul-77

4.05

Aug-77

3.86

Sep-77

3.89

Oct-77

3.84

Nov-77

3.82

Dec-77

3.72

Jan-78

3.53

Feb-78

3.70

Mar-78

3.72

Apr-78

3.76

May-78

3.69

Jun-78

3.81

Jul-78

3.71

Aug-78

3.74

Sep-78

3.69

Oct-78

3.61

Nov-78

3.52

Dec-78

3.39

Jan-79

3.52

Feb-79

3.55

Mar-79

3.55

Apr-79

3.60

May-79

3.59

Jun-79

3.75

Jul-79

3.59

Aug-79

3.67

Sep-79

3.52

Oct-79

3.55

Nov-79

3.71

Dec-79

3.79

Jan-80

3.74

Feb-80

3.77

Mar-80

3.74

Apr-80

4.20

May-80

4.75

Jun-80

4.61

Jul-80

4.58

Aug-80

4.67

Sep-80

4.55

Oct-80

4.54

Nov-80

4.52

Dec-80

4.47

Jan-81

4.63

Feb-81

4.48

Mar-81

4.45

Apr-81

4.38

May-81

4.48

Jun-81

4.42

Jul-81

4.69

Aug-81

4.68

Sep-81

4.81

Oct-81

5.31

Nov-81

5.19

Dec-81

5.56

Jan-82

5.08

Feb-82

5.75

Mar-82

5.96

Apr-82

6.07

May-82

6.10

Jun-82

6.02

Jul-82

6.12

Aug-82

6.24

Sep-82

6.74

Oct-82

6.91

Nov-82

6.76

Dec-82

6.72

Jan-83

6.79

Feb-83

6.63

Mar-83

6.50

Apr-83

6.33

May-83

6.25

Jun-83

6.20

Jul-83

6.11

Aug-83

6.15

Sep-83

6.07

Oct-83

5.89

Nov-83

5.98

Dec-83

5.71

Jan-84

5.75

Feb-84

5.69

Mar-84

5.45

Apr-84

5.52

May-84

5.29

Jun-84

5.57

Jul-84

5.45

Aug-84

5.31

Sep-84

5.43

Oct-84

5.41

Nov-84

5.31

Dec-84

5.46

Jan-85

5.30

Feb-85

4.95

Mar-85

5.34

Apr-85

5.26

May-85

5.45

Jun-85

5.27

Jul-85

5.23

Aug-85

5.37

Sep-85

5.20

Oct-85

5.06

Nov-85

5.09

Dec-85

5.09

Jan-86

5.09

Feb-86

4.85

Mar-86

5.10

Apr-86

5.35

May-86

5.42

Jun-86

5.14

Jul-86

4.93

Aug-86

5.02

Sep-86

5.10

Oct-86

5.23

Nov-86

4.99

Dec-86

5.07

Jan-87

4.94

Feb-87

5.01

Mar-87

4.88

Apr-87

4.79

May-87

4.79

Jun-87

4.67

Jul-87

4.88

Aug-87

4.72

Sep-87

4.70

Oct-87

4.82

Nov-87

4.87

Dec-87

4.64

Jan-88

4.65

Feb-88

4.65

Mar-88

4.63

Apr-88

4.48

May-88

4.30

Jun-88

4.61

Jul-88

4.75

Aug-88

4.56

Sep-88

4.41

Oct-88

4.33

Nov-88

4.34

Dec-88

4.62

Jan-89

4.33

Feb-89

4.20

Mar-89

4.16

Apr-89

4.31

May-89

4.18

Jun-89

4.23

Jul-89

4.19

Aug-89

4.15

Sep-89

4.11

Oct-89

4.03

Nov-89

4.07

Dec-89

4.09

Jan-90

4.08

Feb-90

4.04

Mar-90

4.07

Apr-90

4.16

May-90

4.19

Jun-90

4.51

Jul-90

4.44

Aug-90

4.52

Sep-90

4.53

Oct-90

4.62

Nov-90

4.64

Dec-90

4.82

Jan-91

4.63

Feb-91

5.07

Mar-91

5.15

Apr-91

5.30

May-91

5.15

Jun-91

5.19

Jul-91

5.23

Aug-91

5.26

Sep-91

5.46

Oct-91

5.42

Nov-91

5.51

Dec-91

5.50

Jan-92

5.59

Feb-92

5.56

Mar-92

5.53

Apr-92

5.48

May-92

5.53

Jun-92

5.46

Jul-92

5.48

Aug-92

5.46

Sep-92

5.40

Oct-92

5.54

Nov-92

5.58

Dec-92

5.43

Jan-93

5.20

Feb-93

5.56

Mar-93

5.29

Apr-93

5.51

May-93

5.45

Jun-93

5.52

Jul-93

5.56

Aug-93

5.53

Sep-93

5.45

Oct-93

5.28

Nov-93

5.16

Dec-93

5.18

Jan-94

4.06

Feb-94

3.83

Mar-94

4.01

Apr-94

3.89

May-94

3.94

Jun-94

3.93

Jul-94

3.67

Aug-94

3.53

Sep-94

3.50

Oct-94

3.60

Nov-94

3.59

Dec-94

3.56

Jan-95

3.65

Feb-95

3.52

Mar-95

3.56

Apr-95

3.54

May-95

3.63

Jun-95

3.60

Jul-95

3.55

Aug-95

3.61

Sep-95

3.66

Oct-95

3.56

Nov-95

3.59

Dec-95

3.54

Jan-96

3.21

Feb-96

3.52

Mar-96

3.52

Apr-96

3.54

May-96

3.43

Jun-96

3.41

Jul-96

3.43

Aug-96

3.45

Sep-96

3.44

Oct-96

3.42

Nov-96

3.15

Dec-96

3.41

Jan-97

3.27

Feb-97

3.31

Mar-97

3.19

Apr-97

3.40

May-97

3.11

Jun-97

3.09

Jul-97

3.11

Aug-97

3.11

Sep-97

3.08

Oct-97

3.05

Nov-97

3.03

Dec-97

2.94

Jan-98

3.00

Feb-98

2.96

Mar-98

2.95

Apr-98

2.88

May-98

2.84

Jun-98

2.87

Jul-98

2.89

Aug-98

2.69

Sep-98

2.61

Oct-98

2.60

Nov-98

2.52

Dec-98

2.58

Jan-99

2.59

Feb-99

2.58

Mar-99

2.67

Apr-99

2.59

May-99

2.55

Jun-99

2.56

Jul-99

2.51

Aug-99

2.46

Sep-99

2.45

Oct-99

2.35

Nov-99

2.40

Dec-99

2.44

Jan-00

2.35

Feb-00

2.32

Mar-00

2.36

Apr-00

2.32

May-00

2.40

Jun-00

2.34

Jul-00

2.30

Aug-00

2.35

Sep-00

2.35

Oct-00

2.32

Nov-00

2.52

Dec-00

2.36

Jan-01

2.42

Feb-01

2.40

Mar-01

2.38

Apr-01

2.40

May-01

2.51

Jun-01

2.77

Jul-01

2.59

Aug-01

2.48

Sep-01

3.09

Oct-01

3.25

Nov-01

3.17

Dec-01

3.23

Jan-02

3.03

Feb-02

3.14

Mar-02

3.01

Apr-02

3.08

May-02

3.01

Jun-02

2.97

Jul-02

3.04

Aug-02

3.15

Sep-02

3.15

Oct-02

3.15

Nov-02

3.17

Dec-02

3.17

Jan-03

3.35

Feb-03

3.52

Mar-03

3.38

Apr-03

3.49

May-03

3.32

Jun-03

3.33

Jul-03

3.38

Aug-03

3.21

Sep-03

3.55

Oct-03

3.49

Nov-03

3.51

Dec-03

3.43

Jan-04

3.40

Feb-04

3.28

Mar-04

3.42

Apr-04

3.29

May-04

3.30

Jun-04

3.19

Jul-04

3.19

Aug-04

3.21

Sep-04

3.22

Oct-04

3.45

Nov-04

3.24

Dec-04

3.16

Jan-05

3.13

Feb-05

3.03

Mar-05

3.12

Apr-05

3.03

May-05

3.05

Jun-05

3.13

Jul-05

3.10

Aug-05

3.15

Sep-05

3.28

Oct-05

2.99

Nov-05

2.96

Dec-05

2.88

Jan-06

2.88

Feb-06

2.91

Mar-06

2.76

Apr-06

2.71

May-06

2.85

Jun-06

2.99

Jul-06

2.98

Aug-06

2.90

Sep-06

2.84

Oct-06

2.99

Nov-06

2.88

Dec-06

2.87

Jan-07

2.93

Feb-07

2.89

Mar-07

2.91

Apr-07

2.96

May-07

3.07

Jun-07

2.97

Jul-07

3.02

Aug-07

3.14

Sep-07

3.09

Oct-07

2.96

Nov-07

3.07

Dec-07

3.16

Jan-08

3.31

Feb-08

3.35

Mar-08

3.36

Apr-08

3.57

May-08

3.62

Jun-08

3.80

Jul-08

4.07

Aug-08

4.03

Sep-08

4.24

Oct-08

4.62

Nov-08

5.07

Dec-08

5.60

Jan-09

5.66

Feb-09

6.20

Mar-09

6.45

Apr-09

6.33

May-09

6.49

Jun-09

6.46

Jul-09

6.39

Aug-09

6.47

Sep-09

6.39

Oct-09

6.51

Nov-09

6.56

Dec-09

6.59

Jan-10

6.13

Feb-10

6.42

Mar-10

6.57

Apr-10

6.58

May-10

6.33

Jun-10

6.21

Jul-10

6.19

Aug-10

6.33

Sep-10

6.62

Oct-10

6.41

Nov-10

6.37

Dec-10

6.41

Jan-11

6.06

Feb-11

6.02

Mar-11

6.10

Apr-11

6.20

May-11

6.13

Jun-11

6.12

Jul-11

6.03

Aug-11

6.30

Sep-11

6.49

Oct-11

6.22

Nov-11

5.99

Dec-11

5.80

Jan-12

5.80

Feb-12

5.72

Mar-12

5.40

Apr-12

5.56

May-12

5.70

Jun-12

5.76

Jul-12

5.80

Aug-12

5.66

Sep-12

6.02

Oct-12

5.78

Nov-12

5.68

Dec-12

5.53

Jan-13

5.56

Note: There were National Bureau of Economic Research defined recessions from 1957Q3 to 1954Q2, from 1960Q2 to 1961Q1, from 1969Q4 to 1970Q4, from 1973Q4 to 1975Q1, from 1980Q1 to 1980Q3, from 1981Q3 to 1982Q4, from 1990Q3 to 1991Q1, from 2001Q1 to 2001Q4, and from 2007Q4 to 2009Q2. A break in the data series occurs in January 1994 as a result of the redesign of the Current Population Survey.

Source: U.S. Depratment of Labor, Bureau of Labor Statistics

Exhibit 7: Labor's Share of Income, Nonfinancial Corporate Sector

Quarter

Share

1947Q1

66.56

1947Q2

64.79

1947Q3

65.13

1947Q4

64.81

1948Q1

63.64

1948Q2

62.75

1948Q3

63.55

1948Q4

62.85

1949Q1

62.97

1949Q2

63.32

1949Q3

62.31

1949Q4

63.45

1950Q1

62.65

1950Q2

61.94

1950Q3

61.05

1950Q4

61.14

1951Q1

61.96

1951Q2

62.85

1951Q3

62.69

1951Q4

62.46

1952Q1

63.63

1952Q2

64.22

1952Q3

64.70

1952Q4

64.34

1953Q1

64.38

1953Q2

64.91

1953Q3

65.18

1953Q4

67.32

1954Q1

66.28

1954Q2

65.65

1954Q3

64.99

1954Q4

64.35

1955Q1

63.09

1955Q2

63.20

1955Q3

63.41

1955Q4

63.59

1956Q1

64.38

1956Q2

64.70

1956Q3

64.94

1956Q4

65.13

1957Q1

64.74

1957Q2

64.96

1957Q3

65.13

1957Q4

65.84

1958Q1

66.54

1958Q2

65.93

1958Q3

65.21

1958Q4

64.24

1959Q1

63.98

1959Q2

63.45

1959Q3

64.68

1959Q4

64.74

1960Q1

64.51

1960Q2

65.51

1960Q3

65.40

1960Q4

65.71

1961Q1

65.85

1961Q2

65.04

1961Q3

64.87

1961Q4

64.43

1962Q1

64.19

1962Q2

64.66

1962Q3

64.40

1962Q4

64.06

1963Q1

64.08

1963Q2

63.60

1963Q3

63.56

1963Q4

63.53

1964Q1

63.09

1964Q2

63.35

1964Q3

63.37

1964Q4

63.67

1965Q1

62.68

1965Q2

62.64

1965Q3

62.76

1965Q4

62.81

1966Q1

62.78

1966Q2

63.41

1966Q3

64.08

1966Q4

64.11

1967Q1

64.51

1967Q2

64.60

1967Q3

64.64

1967Q4

64.32

1968Q1

64.64

1968Q2

64.44

1968Q3

64.70

1968Q4

64.84

1969Q1

65.09

1969Q2

65.72

1969Q3

66.31

1969Q4

67.12

1970Q1

67.89

1970Q2

67.17

1970Q3

67.22

1970Q4

67.45

1971Q1

66.25

1971Q2

66.29

1971Q3

66.22

1971Q4

66.19

1972Q1

66.31

1972Q2

66.56

1972Q3

66.28

1972Q4

66.10

1973Q1

66.18

1973Q2

66.89

1973Q3

67.18

1973Q4

67.25

1974Q1

68.00

1974Q2

68.13

1974Q3

68.47

1974Q4

68.13

1975Q1

67.10

1975Q2

65.80

1975Q3

64.73

1975Q4

65.06

1976Q1

64.98

1976Q2

65.68

1976Q3

66.06

1976Q4

66.49

1977Q1

66.31

1977Q2

65.61

1977Q3

65.12

1977Q4

65.77

1978Q1

66.79

1978Q2

65.81

1978Q3

66.53

1978Q4

66.50

1979Q1

67.32

1979Q2

67.56

1979Q3

67.99

1979Q4

68.13

1980Q1

68.17

1980Q2

69.01

1980Q3

68.39

1980Q4

67.46

1981Q1

67.06

1981Q2

66.66

1981Q3

65.72

1981Q4

66.39

1982Q1

66.65

1982Q2

66.29

1982Q3

66.48

1982Q4

66.94

1983Q1

66.22

1983Q2

65.54

1983Q3

65.05

1983Q4

65.14

1984Q1

64.69

1984Q2

64.58

1984Q3

64.89

1984Q4

64.92

1985Q1

65.05

1985Q2

65.22

1985Q3

64.92

1985Q4

65.68

1986Q1

65.65

1986Q2

66.00

1986Q3

66.31

1986Q4

66.44

1987Q1

66.25

1987Q2

65.80

1987Q3

65.43

1987Q4

65.73

1988Q1

65.23

1988Q2

65.38

1988Q3

65.43

1988Q4

65.01

1989Q1

65.53

1989Q2

65.64

1989Q3

65.63

1989Q4

66.11

1990Q1

66.06

1990Q2

65.78

1990Q3

66.26

1990Q4

66.20

1991Q1

65.54

1991Q2

65.74

1991Q3

65.93

1991Q4

66.27

1992Q1

66.23

1992Q2

66.33

1992Q3

66.84

1992Q4

66.30

1993Q1

66.47

1993Q2

66.14

1993Q3

66.17

1993Q4

65.37

1994Q1

65.36

1994Q2

64.93

1994Q3

64.58

1994Q4

64.27

1995Q1

64.81

1995Q2

64.84

1995Q3

64.39

1995Q4

64.35

1996Q1

63.95

1996Q2

63.91

1996Q3

63.91

1996Q4

63.73

1997Q1

63.68

1997Q2

63.77

1997Q3

63.53

1997Q4

64.16

1998Q1

65.20

1998Q2

65.32

1998Q3

65.19

1998Q4

65.60

1999Q1

65.49

1999Q2

65.41

1999Q3

65.79

1999Q4

66.15

2000Q1

66.72

2000Q2

66.63

2000Q3

67.22

2000Q4

67.77

2001Q1

67.87

2001Q2

67.51

2001Q3

67.70

2001Q4

68.00

2002Q1

67.01

2002Q2

66.93

2002Q3

66.83

2002Q4

66.34

2003Q1

66.31

2003Q2

66.52

2003Q3

66.31

2003Q4

66.23

2004Q1

64.77

2004Q2

64.35

2004Q3

64.22

2004Q4

64.39

2005Q1

63.59

2005Q2

62.96

2005Q3

63.53

2005Q4

62.31

2006Q1

62.32

2006Q2

62.28

2006Q3

61.37

2006Q4

62.24

2007Q1

62.48

2007Q2

62.31

2007Q3

63.14

2007Q4

63.21

2008Q1

64.07

2008Q2

63.90

2008Q3

62.67

2008Q4

63.48

2009Q1

63.45

2009Q2

63.95

2009Q3

63.64

2009Q4

62.28

2010Q1

61.17

2010Q2

61.42

2010Q3

60.97

2010Q4

61.07

2011Q1

61.59

2011Q2

60.61

2011Q3

60.50

2011Q4

60.20

2012Q1

60.58

2012Q2

60.55

2012Q3

60.74

Note: There were National Bureau of Economic Research defined recessions from 1948Q4 to 1949Q4, 1957Q3 to 1954Q2, from 1960Q2 to 1961Q1, from 1969Q4 to 1970Q4, from 1973Q4 to 1975Q1, from 1980Q1 to 1980Q3, from 1981Q3 to 1982Q4, from 1990Q3 to 1991Q1, from 2001Q1 to 2001Q4, and from 2007Q4 to 2009Q2.

Source: U.S. Department of Commerce, Bureau of Economic Analysis

Exhibit 8: Occupation and Industry Mismatch

Date

Industry

Occupation

May-05

0.19

0.36

Jun-05

0.19

0.36

Jul-05

0.19

0.36

Aug-05

0.19

0.38

Sep-05

0.18

0.38

Oct-05

0.18

0.36

Nov-05

0.15

0.37

Dec-05

0.21

0.37

Jan-06

0.22

0.38

Feb-06

0.20

0.39

Mar-06

0.16

0.37

Apr-06

0.18

0.37

May-06

0.19

0.37

Jun-06

0.19

0.37

Jul-06

0.15

0.38

Aug-06

0.19

0.39

Sep-06

0.17

0.37

Oct-06

0.16

0.38

Nov-06

0.19

0.39

Dec-06

0.16

0.39

Jan-07

0.14

0.38

Feb-07

0.16

0.41

Mar-07

0.16

0.41

Apr-07

0.17

0.41

May-07

0.16

0.41

Jun-07

0.18

0.41

Jul-07

0.15

0.41

Aug-07

0.15

0.40

Sep-07

0.19

0.42

Oct-07

0.20

0.42

Nov-07

0.17

0.42

Dec-07

0.19

0.42

Jan-08

0.21

0.42

Feb-08

0.21

0.41

Mar-08

0.21

0.42

Apr-08

0.22

0.42

May-08

0.19

0.40

Jun-08

0.24

0.42

Jul-08

0.23

0.41

Aug-08

0.24

0.40

Sep-08

0.22

0.42

Oct-08

0.22

0.40

Nov-08

0.27

0.40

Dec-08

0.26

0.41

Jan-09

0.30

0.42

Feb-09

0.30

0.42

Mar-09

0.29

0.41

Apr-09

0.32

0.41

May-09

0.30

0.43

Jun-09

0.28

0.43

Jul-09

0.31

0.43

Aug-09

0.28

0.42

Sep-09

0.25

0.41

Oct-09

0.30

0.42

Nov-09

0.29

0.43

Dec-09

0.28

0.42

Jan-10

0.30

0.40

Feb-10

0.25

0.40

Mar-10

0.24

0.41

Apr-10

0.28

0.41

May-10

0.25

0.41

Jun-10

0.22

0.41

Jul-10

0.23

0.41

Aug-10

0.24

0.41

Sep-10

0.23

0.41

Oct-10

0.23

0.40

Nov-10

0.24

0.40

Dec-10

0.23

0.39

Jan-11

0.19

0.40

Feb-11

0.20

0.39

Mar-11

0.20

0.38

Apr-11

0.20

0.39

May-11

0.21

0.38

Jun-11

0.22

0.38

Jul-11

0.20

0.37

Aug-11

0.22

0.38

Sep-11

0.20

0.37

Oct-11

0.18

0.37

Nov-11

0.16

0.36

Dec-11

0.18

0.36

Note: There was a National Bureau of Economic Research defined recession from 2007Q4 to 2009Q1.

Source: Edward P. Lazear and James R. Spletzer (2012), "The United States Labor Market: Status Quo or a New Normal?" NBER Working Paper Series 18386 (Cambridge, Mass.: National Bureau of Economic Research, September